Micro Newshttp://www.mortgagenewsdaily.com/micro_news/enCommunityServer 2008 SP2 (Build: 31106.96)Bond Markets Battle Back After Weaker Overnight Tradinghttp://www.mortgagenewsdaily.com/micro_news/383539.aspxMon, 11 Aug 2014 13:28:22 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383539Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383539http://www.mortgagenewsdaily.com/micro_news/383539.aspx#comments<p>Treasury yields moved slightly higher overnight, extending Friday afternoon&#39;s weakness in fairly linear fashion.&nbsp; The weakness ended when European markets came online.&nbsp; German Bund yields opened several bps higher (they hadn&#39;t had a chance to take part in Friday&#39;s sell-off), but began improving from there.&nbsp;</p>
<p>Treasuries started the domestic session a few bps higher.&nbsp; 10yr yields briefly hit 2.44 but are currently back down to 2.418, close to breaking even.&nbsp; MBS started 1 tick lower and are now 3 ticks higher.&nbsp; Domestic bond markets have been cautiously advancing this morning as European bond markets have been holding ground or improving.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383539.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383539/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383539" width="1" height="1">MBSUPDATENegative Reprice Risk Remains; Possibly Increasing as Levels Leak Lowerhttp://www.mortgagenewsdaily.com/micro_news/383424.aspxFri, 08 Aug 2014 20:04:45 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383424Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383424http://www.mortgagenewsdaily.com/micro_news/383424.aspx#comments<p>Fannie 3.5s just ticked briefly to new lows on the day.&nbsp; Both MBS and Treasuries have been grinding along at their weakest levels as the weekend approaches.&nbsp; Considering that reprice risk was already on the table with the initial afternoon sell-off, it&#39;s safe to assume it not only remains, but could be increasing slightly.</p>
<p>We&#39;re currently down only 3 ticks on the day at 102-17, but 6 ticks lower from lender rate sheet print times.&nbsp; 10yr yields are unchanged at 2.424.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383424.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383424/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383424" width="1" height="1">MBSalertBond Markets Drop on Russia/Ukraine Headlines; Negative Reprice Risk Potentialhttp://www.mortgagenewsdaily.com/micro_news/383381.aspxFri, 08 Aug 2014 17:30:30 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383381Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383381http://www.mortgagenewsdaily.com/micro_news/383381.aspx#comments<p>Fannie 3.5s are quickly into negative territory on headlines that Russia is done with military exercises near the Ukrainian border.&nbsp; It remains to be seen how the weakness plays out, but as of now, we&#39;re 4 ticks off from several lenders&#39; rate sheet print times.&nbsp; As such, negative reprices are possible, though not guaranteed to be widespread just yet.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383381.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383381/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383381" width="1" height="1">MBSalertBond Markets Surge Overnight, Dialed Back, but Gaining Again; MBS Underperform Horribly http://www.mortgagenewsdaily.com/micro_news/383309.aspxFri, 08 Aug 2014 13:46:42 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383309Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383309http://www.mortgagenewsdaily.com/micro_news/383309.aspx#comments<p>All that discussion we&#39;ve been having on the unwillingness of MBS to participate in a geopolitical flight-to-safety is coming to an ugly head this morning.&nbsp; Fannie 3.5s are struggling to hold even the most modest gains while Treasuries rally to 14-month lows.&nbsp;</p>
<p>Here&#39;s a play-by-play of the overnight rally and early morning correction:</p>
<ul>
<li>Obama announces air strikes in Iraq, 10yr yields fall to 2.38 in Asian trading</li>
<li>European trading opens and bonds rally more.&nbsp; German bunds hit high 1.02% range.&nbsp; US 10&#39;s fall to 2.349</li>
<li>Market rout fizzles as equities were unwilling to go much lower, reversal was gentle at first.</li>
<li>Then news hit just before 8am that Russia is ready to mediate talks between Kiev and East Ukraine.&nbsp; The reversal picked up steam and 10yr yields were back up to 2.41</li>
<li>The reversal has since leveled off and yields are back to 2.39.&nbsp;</li>
</ul>
<p>Through it all, MBS are underperforming horribly with Fannie 3.5s up 5 ticks compared to the 11 ticks of price gains in 10yr Treasuries.&nbsp;&nbsp; Economic data is present, but largely unimportant today.&nbsp; Bond markets are fighting battles based on jockeying of trading positions and technical levels.&nbsp; Beyond that, they&#39;re in tune with European markets for the next few hours at least.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383309.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383309/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383309" width="1" height="1">MBSUPDATEBond Markets Rolled up by Afternoon Snowball Buying (That's a Good Thing)http://www.mortgagenewsdaily.com/micro_news/383167.aspxThu, 07 Aug 2014 19:11:58 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383167Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383167http://www.mortgagenewsdaily.com/micro_news/383167.aspx#comments<p>Heading into (and out of) the 3pm close for Treasury pit trading, 10yr yields broke through the day&#39;s previous lows and have seen follow-through buying since then (now down to 2.419).&nbsp; Stocks and European futures (both stocks and bonds) are in on the move.</p>
<p>MBS have finally broken above yesterday&#39;s highs, now up 9 ticks at 102-20.&nbsp; Positive reprices are now more possible than they were with the first rally of the day.</p>
<p></p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383167.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383167/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383167" width="1" height="1">MBSUPDATETreasuries at Best Levels Since Late May after Ukraine Headlines; MBS Lagginghttp://www.mortgagenewsdaily.com/micro_news/383113.aspxThu, 07 Aug 2014 16:41:07 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383113Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383113http://www.mortgagenewsdaily.com/micro_news/383113.aspx#comments<p>Bond markets were already doing fairly well, but got another jolt of positivity after newswires hit that a Ukrainian fighter jet was shot down over eastern Ukraine.&nbsp; The market reaction is due to such headlines standing the chance to be the start of a war/invasion--a hot topic so far this week.</p>
<p>German Bunds fell to 1.06--another new all-time low--and Treasuries followed by breaking to levels not seen since late May.&nbsp; 10&#39;s are currently trading just under 2.44.</p>
<p>MBS have been lagging Treasuries both in the medium and short term--really, ever since the geopolitical risks stepped to the forefront in July.&nbsp; All that to say that MBS are NOT at their best levels since late May, and they&#39;d need to gain another half point to make that claim.</p>
<p>That said, they&#39;re still up 6 ticks, which is enough for positive reprice potential.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383113.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383113/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383113" width="1" height="1">MBSUPDATEBond Markets Holding Just Inside Positive Territory After Data and Draghihttp://www.mortgagenewsdaily.com/micro_news/383048.aspxThu, 07 Aug 2014 13:24:54 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:383048Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=383048http://www.mortgagenewsdaily.com/micro_news/383048.aspx#comments<p>Yesterday&#39;s high yields in Treasuries held as a <strong>supportive ceiling</strong> during the first part of the overnight session.&nbsp; As European markets began trading, bonds improved slightly with 10yr Treasuries falling back into the 2.44&#39;s and German Bunds hitting new all-time lows again (1.08%).&nbsp; That happened fairly early on in the European session and things were sideways in stronger territory from there.</p>
<p>As expected, the ECB (European Central Bank) Announcement contained no surprises.&nbsp; Jobless Claims were stronger than expected at 289k vs 305k.&nbsp; Treasuries and MBS weakened just slightly as a result, but supportive comments for ECH Pres. Draghi helped bonds hold their ground.&nbsp; The<strong> important comments</strong> included a reiteration of the ECB&#39;s commitment to holding rates low and&nbsp; to working on their version of QE (which will instead be an Asset-Backed-Security purchase program).</p>
<p>MBS and 10yr yields are currently holding just inside positive territory.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/383048.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/383048/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=383048" width="1" height="1">MBSUPDATEBond Markets Still Languishing Near Lows; Moderate Reprice Risk Remainshttp://www.mortgagenewsdaily.com/micro_news/382922.aspxWed, 06 Aug 2014 19:15:11 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382922Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382922http://www.mortgagenewsdaily.com/micro_news/382922.aspx#comments<p>Nothing new or different is happening in bond markets.&nbsp; MBS and Treasuries simply continue trudging sideways to slightly weaker.&nbsp; That weakness has, just now, taken MBS to their lows of the day.&nbsp; This isn&#39;t too dramatic as it&#39;s only half a tick below the previous lows.&nbsp;</p>
<p>There was an outside possibility of negative reprices when we first reached those levels, so naturally it&#39;s still intact.&nbsp; Fannie 3.5s are still up 1 tick on the day at 102-10 and 10yr yields are still down 1bp at 2.473.&nbsp; To reiterate, reprices are by no means guaranteed, but neither could they be ruled out completely.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382922.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382922/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382922" width="1" height="1">MBSalertNegative Reprice Risk Increasing Slightly as MBS Push Lowshttp://www.mortgagenewsdaily.com/micro_news/382790.aspxWed, 06 Aug 2014 15:03:52 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382790Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382790http://www.mortgagenewsdaily.com/micro_news/382790.aspx#comments<p>While we&#39;re not technically breaking into new lows yet, MBS and Treasuries have increasingly spent time toeing the line of the day&#39;s weakest levels.&nbsp; Stock continue making gains and EU bond markets continue holding ground.&nbsp;</p>
<p>Fannie 3.5s are still up 3 ticks on the day, but down 4 ticks (.125) from the time some lenders marked MBS prices for rate sheets.&nbsp; The next tick or two of weakness would increase the chances of a lender or two repricing.&nbsp; It&#39;s an outside possibility already.&nbsp;</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382790.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382790/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382790" width="1" height="1">MBSalertBond Markets Pull Back as Stocks Rally Sharply at the Openhttp://www.mortgagenewsdaily.com/micro_news/382767.aspxWed, 06 Aug 2014 13:54:28 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382767Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382767http://www.mortgagenewsdaily.com/micro_news/382767.aspx#comments<p>In addition to the European bond market strength overnight, S&amp;P futures and other equities markets followed the move lower in bond yields overnight.&nbsp; To a much greater degree than Treasuries, equities markets get a big injection of liquidity when cash trading opens at 9:30am.&nbsp; Today&#39;s open has seen a sharp move higher with S&amp;Ps already 8 points up from 9:30am levels.</p>
<p>Treasuries and MBS have lost ground as a result.&nbsp; Fannie 3.5s are down 3 ticks from 9:30 and 10yr yields are up about a bp.&nbsp;&nbsp;&nbsp; This isn&#39;t quite enough weakness to warrant negative reprice risk yet.&nbsp; Even then, it looks like we have a chance to bounce here.&nbsp; Too soon to tell, but so far, so good.&nbsp; We&#39;ll let you know if that changes.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382767.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382767/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382767" width="1" height="1">MBSUPDATEEuropean Bonds Surge, Pulling US Yields Lower Overnight; Holding Ground Nowhttp://www.mortgagenewsdaily.com/micro_news/382761.aspxWed, 06 Aug 2014 13:25:26 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382761Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382761http://www.mortgagenewsdaily.com/micro_news/382761.aspx#comments<p>Ironically, part of the discussion in this morning&#39;s &#39;day ahead&#39; concerned the respective floors underneath yields in both German and US debt.&nbsp; Ironic because during the overnight session, German yields once again broke through the red line on this chart:</p>
<p><a href="http://app.mbslive.net/asset/53e1806bbecf1e0b0c88434d"><img src="http://a.mbslive.net/assets/53e1806bbecf1e0b0c88434d/53e1806bbecf1e0b0c88434d.gif" alt="2014-8-5 bunds and tsys" style="max-width:500px;border:0;" /></a></p>
<p>And no sooner did that happen than 10yr yields moved below 2.47 again.&nbsp; There&#39;s still some way to go before 10yr yields break the lows of the year, but 2.47 is a significant pivot point.&nbsp; Being below there is akin to a runner taking a <strong>lead-off</strong> before stealing a base.&nbsp;</p>
<p>As for the European bond market strength, chalk that up to <strong>exceptionally</strong> weak economic data out of Germany (Industrial Orders fell at fastest pace since Sept 2011) and Italy&#39;s 3rd slide into recession since 2008.&nbsp; Germany and Italy are the largest and 3rd largest economies in the EU respectively.&nbsp; Weak UK data (industrial output) was icing on the cake for the European bond rally.</p>
<p>10yr German Bunds fell to new <strong>all-time</strong> lows overnight, currently at 1.10.&nbsp; Treasuries followed, and were down to 2.44 by 6:30am.&nbsp; MBS opened a quarter point higher (+0-08 at 102-16). While European debt has continued to improve modestly, Treasuries and MBS have dialed it back a bit.&nbsp;</p>
<p>This reiterates the face that there is <strong>SIGNIFICANT</strong> resistance for Treasuries in this 2.44-2.47 neighborhood, but they will only let themselves get so far away from German yields before being forced to break lower.&nbsp; With Europe being such a big driver this morning, keep an eye out for volatility heading into the EU bond market close at 1pm.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382761.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382761/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382761" width="1" height="1">MBSUPDATESideways to Slightly Weaker as Headline Impact Fadeshttp://www.mortgagenewsdaily.com/micro_news/382604.aspxTue, 05 Aug 2014 20:09:45 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382604Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382604http://www.mortgagenewsdaily.com/micro_news/382604.aspx#comments<p>This isn&#39;t a negative reprice situation for the average lender, but certainly a heads up that the trend in bond markets has been moderately weaker since just after 2pm.&nbsp; MBS have been under relatively more pressure than Treasuries with Fannie 3.5s back down to -0-03 on the day at 102-08.&nbsp; They&#39;d been as high as 102-13 earlier.</p>
<p>While the afternoon weakness doesn&#39;t necessarily connote negative reprice risk, it all but guarantees an absence of positive reprice potential (for those of you who might have been waiting).</p>
<p></p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382604.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382604/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382604" width="1" height="1">MBSUPDATEBond Markets Break Into Positive Territory on Russia Invasion Headlineshttp://www.mortgagenewsdaily.com/micro_news/382577.aspxTue, 05 Aug 2014 18:22:32 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382577Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382577http://www.mortgagenewsdaily.com/micro_news/382577.aspx#comments<p>Polish Foreign Minister Sikorski said that Russia is &quot;poised to pressure or invade Ukraine.&quot;&nbsp; No one seems to be sure what that means or how it&#39;s any different than having troops on the border for months, but apparently markets care.&nbsp; Stocks and bond yields shot lower immediately following the headlines and MBS are now 2 ticks into positive territory.&nbsp; 10yr yields are almost down to yesterday&#39;s lows--currently at 2.478.&nbsp; </p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382577.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382577/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382577" width="1" height="1">MBSUPDATEBond Markets Bounce Backhttp://www.mortgagenewsdaily.com/micro_news/382527.aspxTue, 05 Aug 2014 16:52:48 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382527Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382527http://www.mortgagenewsdaily.com/micro_news/382527.aspx#comments<p>After falling somewhat sharply after this morning&#39;s ISM Non-Manufacturing data, bond markets are bouncing back.&nbsp; 10yr yields are now back below pre-ISM levels and MBS are just now moving through theirs.&nbsp; Fannie 3.5s are now down only 3 ticks at 102-09.&nbsp;</p>
<p>This alleviates any negative reprice risk from earlier lows.&nbsp;</p>
<p></p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382527.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382527/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382527" width="1" height="1">MBSUPDATEPost-Data Weakness Continues; Now Entering Reprice Risk Territoryhttp://www.mortgagenewsdaily.com/micro_news/382477.aspxTue, 05 Aug 2014 14:22:43 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:382477Matthew Graham0http://www.mortgagenewsdaily.com/channels/micro_news/rsscomments.aspx?PostID=382477http://www.mortgagenewsdaily.com/micro_news/382477.aspx#comments<p>Bond market weakness following the 10am econ data has now taken MBS to levels that could result in negative reprices for some lenders.&nbsp; Fannie 3.5s are down 5 ticks on the day with at least 4 of them arriving since many lenders&#39; rate sheet print times.&nbsp; Reprices are possible already, though won&#39;t likely affect a majority of lenders unless we lose a few more ticks.</p>
<p>10yr yields are up 2.7bps now at 2.518.</p><div style="clear:both;"></div>...(<a href="http://www.mortgagenewsdaily.com/micro_news/382477.aspx">read more</a>)<p><div style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"><strong>Forward this article via email:</strong>&nbsp;&nbsp;<a href="http://www.mortgagenewsdaily.com/channels/382477/3/forward.aspx" style="color:#3333CC;">Send a copy of this story</a> to someone you know that may want to read it.</div></p><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=382477" width="1" height="1">MBSalert